gmdao

Context :

This proposal aims at settling the gm.studio incorporation and its relation with the gmDAO. Part 1 was already voted (Snapshot link : https://snapshot.org/#/gmdao.eth/proposal/0x927f3a9573c5c8840c997f9efa90d4aba841b369d28205e3d5b8626565e8792c). Part 2 focus entirely on the AoA terms.

Specifics :

The updated version of the AoA can be found at https://docs.google.com/document/d/1OdXE4s3ke-gamuei7k7DZwiz4bR6uENx/edit?usp=sharing&ouid=108327214474544522992&rtpof=true&sd=true.

Some informations are still missing but will be added in the upcoming days. This snapshot vote guarantees the addition of the following informations into the AoA :

• 7.5% of shares will be fully distributed among the founders and represents the 1 year served potion. The remaining 7.5% will be distributed to the founders after the 2nd year is served, thus bringing the total up to 15% after 2 years.
• transfer of shares : the DAO as a majority shareholder gets first refusal on any share sales from team members.

Funding :

Cost breakdown of the Part.1 (already voted) :

Incorporation fee: Nul (covered by previous proposal) Starting capital for GmbH: CHF 20,000 Annual fee for authorised signatory: CHF 10,000 / year Board & company insurance: Est. CHF 2-3000 / year Misc. expenses (opening bank account etc): CHF 1-2000 Total: CHF 35,000 / $ 38,000

As per the updated AoA, the starting capital needed is now 50,000CHF. Reminder, this capital can be used to pay for opex, therefore it’s not frozen, just paid upfront. As a consequence, the additional funding required for Part.2 is 30,000CHF. Total : CHF 30,000 / $ 33,430